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Standalone
net sales (including other operating income) of ABB India for the quarter ended
Jun 2024 has increased 12.84% to Rs 2,830.86 crore. Operating profit
margin has jumped from 13.90% to 19.16%, leading to 55.57% rise in operating
profit to Rs 542.49 crore. Raw material cost as a % of total sales
(net of stock adjustments) decreased from 54.00% to 45.96%.
Purchase of finished goods cost rose from 7.64% to 8.46%.
Employee cost increased from 6.57% to 7.09%. Other
expenses rose from 18.14% to 19.56%. Contract job process charges
rose from 2.50% to 3.24%. Other income up 15.62% to Rs 86.75
crore. PBIDT rose 48.49% to Rs 629.24 crore. Provision
for interest up 224.46% to Rs 4.51 crore. PBDT rose 47.91% to Rs 624.73
crore. Provision for depreciation rose 5.95% to Rs 30.97
crore. Profit before tax grew 51.03% to Rs 593.76
crore. Provision for tax was expense of Rs 151.13 crore, compared to
Rs 97.32 crore. Effective tax rate was 25.45% compared to 24.76%.
Profit after tax rose 49.63% to Rs 442.63 crore.
For year-to-date (YTD) results analysis
Net sales (including other operating income) of ABB India for the half year ended Jun 2024 has increased 20.15% to Rs 5,911.22 crore. Sales of Robotic & Discrete Automation segment has gone up 1.77% to Rs 193.41 crore (accounting for 3.19% of total sales). Sales of Motion segment has gone up 10.54% to Rs 2,088.63 crore (accounting for 34.43% of total sales). Sales of Electrification segment rose 20.58% to Rs 2,417.62 crore (accounting for 39.86% of total sales). Sales of Industrial Automation segment has gone up 46.17% to Rs 1,359.00 crore (accounting for 22.41% of total sales). Sales of Others segment has gone down 3.07% to Rs 6.94 crore (accounting for 0.11% of total sales). Inter-segment sales rose Rs 101.68 crore to Rs 154.38 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 75.86% to Rs 1,282.77 crore. PBIT of Robotic & Discrete Automation segment rose 11.49% to Rs 29.12 crore (accounting for 2.27% of total PBIT). PBIT of Motion segment rose 86.36% to Rs 465.32 crore (accounting for 36.27% of total PBIT). PBIT of Electrification segment rose 58.15% to Rs 567.20 crore (accounting for 44.22% of total PBIT). PBIT of Industrial Automation segment rose 130.52% to Rs 220.40 crore (accounting for 17.18% of total PBIT). PBIT of Power Grid reported profit of Rs 0.73 crore compared to loss of Rs 0.62 crore. PBIT margin of Robotic & Discrete Automation segment rose from 13.74% to 15.06%. PBIT margin of Motion segment rose from 13.21% to 22.28%. PBIT margin of Electrification segment rose from 17.89% to 23.46%. PBIT margin of Industrial Automation segment rose from 10.28% to 16.22%. Overall PBIT margin rose from 14.53% to 21.15%. Operating profit margin has jumped from 12.89% to 18.74%, leading to 74.70% rise in operating profit to Rs 1,107.67 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 52.90% to 47.78%. Purchase of finished goods cost rose from 8.05% to 8.37%. Employee cost decreased from 7.23% to 7.08%. Other expenses fell from 18.93% to 18.26%. Contract job process charges rose from 2.63% to 2.88%. Other income up 18.07% to Rs 173.89 crore. PBIDT rose 64.03% to Rs 1281.56 crore. Provision for interest up 129.20% to Rs 8.32 crore. Loan funds rose to Rs 47.34 crore as of 30 June 2024 from Rs 41.77 crore as of 30 June 2023. Inventories rose to Rs 1,695.74 crore as of 30 June 2024 from Rs 1,617.06 crore as of 30 June 2023. Sundry debtors were higher at Rs 2,897.76 crore as of 30 June 2024 compared to Rs 2,392.92 crore as of 30 June 2023. Cash and bank balance rose to Rs 5,009.29 crore as of 30 June 2024 from Rs 4,150.34 crore as of 30 June 2023. Investments stood at Rs 1.56 crore as of 30 June 2024 to Rs 1.56 crore as of 30 June 2023. PBDT rose 63.72% to Rs 1273.24 crore. Provision for depreciation rose 10.02% to Rs 62.39 crore. Fixed assets increased to Rs 1,052.26 crore as of 30 June 2024 from Rs 986.58 crore as of 30 June 2023. Intangible assets increased from Rs 17.28 crore to Rs 17.74 crore. Profit before tax grew 67.95% to Rs 1,210.85 crore. Provision for tax was expense of Rs 308.62 crore, compared to Rs 180 crore. Effective tax rate was 25.49% compared to 24.97%.Profit after tax rose 66.78% to Rs 902.23 crore. Equity capital stood at Rs 42.38 crore as of 30 June 2024 to Rs 42.38 crore as of 30 June 2023. Per share face Value remained same at Rs 2.00. Promoters’ stake was 75.00% as of 30 June 2024 ,compared to 75.00% as of 30 June 2023 . Cash flow from operating activities increased to Rs 605.09 crore for YTD ended June 2024 from Rs 585.69 crore for YTD ended June 2023. Cash flow used in acquiring fixed assets during the YTD ended June 2024 stood at Rs 53.18 crore, compared to Rs 69.23 crore during the YTD ended June 2023. Orders
Order backlog as end of Jun 2024 stood at Rs 9517 crore.
Order booking in Q2CY2024 were at INR 3,435 crore (up from Rs 3044 crore in Q2CY2023) and Rs 7,042 crore for H1 CY2024 (up from Rs 6169 crore in H1CY2023). During the
quarter, long cycle orders from emerging (e.g. data centers, renewables, electronics, metro & railways) as
well as core industry segments contributed to the growth. Most business areas posted a significant
double-digit growth in orders. Process Automation had good traction in service orders which partially
offset the impact of one-time large metal segment order received in Q2 CY2023.
From the market side, along with power distribution solutions for a large data center, transportation,
mobility and automotive segments were the key contributors. Transportation included traction
technology orders from railways and metro and automotive primarily constituted robotics solutions for
the EV vehicle segment. While minerals and mining seem to consolidate, metals provided traction to the
order inflows. There was also solid demand for power distribution equipment from metros in two cities
to metals company, and solar project in Gujarat. Export and service orders enhanced growth with
precision equipment export order for a specialized chemical EPC and service order for gas insulated
switchgears from energy majors for the quarter. Terminal automation system and blending solutions for
energy majors also provided significant business opportunity during the quarter.
Management Comments :
Sanjeev Sharma, Managing Director, ABB India said, “We are pleased to announce yet another quarter and half-year of solid profitable growth. Our track record of consistent double-digit revenue and margin growth, and a strong order backlog is testimony to the robust performance of all our division teams, the trust of our customers, and the steadfast support of our channel partners. We continue to focus on diversifying our offerings across the market segments and making strategic investments to capitalize on market opportunities. The positive market momentum and the national focus on energy transition and infrastructure bodes well with ABB India`s energy efficiency portfolio, allowing us to leverage the momentum to make inroads and strengthen our offerings in this space. “Sustainability in practice” continues to be central to our business operations as we prioritize our actions in line with the ABB Group`s Sustainability Strategy."
| ABB India : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202406 | 202306 | Var.(%) | 202406 | 202306 | Var.(%) | 202312 | 202212 | Var.(%) |
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| Net Sales (including other operating income) | 2,830.86 | 2,508.63 | 12.84 | 5,911.22 | 4,919.84 | 20.15 | 10,446.52 | 8,567.53 | 21.93 | | OPM (%) | 19.16 | 13.90 | 526 bps | 18.74 | 12.89 | 585 bps | 14.26 | 11.23 | 303 bps | | OP | 542.49 | 348.72 | 55.57 | 1,107.67 | 634.03 | 74.70 | 1,489.78 | 961.87 | 54.88 | | Other Inc. | 86.75 | 75.03 | 15.62 | 173.89 | 147.28 | 18.07 | 301.69 | 179.47 | 68.10 | | PBIDT | 629.24 | 423.75 | 48.49 | 1,281.56 | 781.31 | 64.03 | 1,791.47 | 1,141.34 | 56.96 | | Interest | 4.51 | 1.39 | 224.46 | 8.32 | 3.63 | 129.20 | 12.66 | 13.11 | -3.43 | | PBDT | 624.73 | 422.36 | 47.91 | 1,273.24 | 777.68 | 63.72 | 1,778.81 | 1,128.23 | 57.66 | | Depreciation | 30.97 | 29.23 | 5.95 | 62.39 | 56.71 | 10.02 | 119.92 | 104.7 | 14.54 | | PBT | 593.76 | 393.13 | 51.03 | 1210.85 | 720.97 | 67.95 | 1658.89 | 1023.53 | 62.08 | | PBT before EO | 593.76 | 393.13 | 51.03 | 1210.85 | 720.97 | 67.95 | 1658.89 | 1023.53 | 62.08 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 339.26 | - | | PBT after EO | 593.76 | 393.13 | 51.03 | 1210.85 | 720.97 | 67.95 | 1658.89 | 1362.79 | 21.73 | | Taxation | 151.13 | 97.32 | 55.29 | 308.62 | 180 | 71.46 | 410.71 | 337.18 | 21.81 | | PAT | 442.63 | 295.81 | 49.63 | 902.23 | 540.97 | 66.78 | 1248.18 | 1025.61 | 21.70 | | P/(L) from discontinued operations net of tax | 0.86 | -0.18 | LP | 0.55 | -0.45 | LP | -6.13 | -9.38 | 34.65 | | Net profit after discontinued operations | 443.49 | 295.63 | 50.02 | 902.78 | 540.52 | 67.02 | 1242.05 | 1016.23 | 22.22 | | EPS (Rs)* | 20.89 | 13.96 | 49.63 | 42.58 | 25.53 | 66.78 | 58.90 | 36.35 | 62.04 | | | * EPS is on current equity of Rs 42.38 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| ABB India : Standalone Segment Results | | | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202406 | 202306 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) |
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| Sales | | Robotic & Discrete Automation | 2.89 | 84.26 | 122.52 | -31.23 | 3.19 | 193.41 | 190.05 | 1.77 | 3.92 | 416.05 | 233.28 | 78.35 | | Motion | 36.86 | 1,075.84 | 917.26 | 17.29 | 34.43 | 2,088.63 | 1,889.50 | 10.54 | 35.62 | 3,785.06 | 3,367.07 | 12.41 | | Electrification | 38.42 | 1,121.37 | 1,005.64 | 11.51 | 39.86 | 2,417.62 | 2,005.05 | 20.58 | 39.31 | 4,177.22 | 3,529.71 | 18.34 | | Industrial Automation | 21.68 | 632.70 | 509.59 | 24.16 | 22.41 | 1,359.00 | 929.76 | 46.17 | 21.04 | 2,236.13 | 1,573.17 | 42.14 | | Others | 0.15 | 4.39 | 5.30 | -17.17 | 0.11 | 6.94 | 7.16 | -3.07 | 0.12 | 12.48 | 29.00 | -56.97 | | Power Grid | 0.00 | 0.00 | 0.00 | - | | Total Reported Sales | 100.00 | 2,918.56 | 2,560.31 | 13.99 | 100.00 | 6,065.60 | 5,021.52 | 20.79 | 100.00 | 10,626.94 | 8,732.23 | 21.70 | | Less: Inter segment revenues | | 87.70 | 51.68 | 69.70 | | 154.38 | 101.68 | 51.83 | | 180.42 | 164.70 | 9.54 | | Net Sales | 100.00 | 2,830.86 | 2,508.63 | 12.84 | 100.00 | 5,911.22 | 4,919.84 | 20.15 | 100.00 | 10,446.52 | 8,567.53 | 21.93 | | PBIT | | Robotic & Discrete Automation | 1.97 | 12.28 | 15.46 | -20.57 | 2.27 | 29.12 | 26.12 | 11.49 | 3.12 | 52.95 | 29.29 | 80.78 | | Motion | 39.89 | 248.98 | 132.90 | 87.34 | 36.27 | 465.32 | 249.69 | 86.36 | 35.47 | 601.44 | 412.48 | 45.81 | | Electrification | 41.57 | 259.44 | 164.04 | 58.16 | 44.22 | 567.20 | 358.64 | 58.15 | 45.68 | 774.55 | 487.80 | 58.78 | | Industrial Automation | 16.39 | 102.30 | 56.75 | 80.26 | 17.18 | 220.40 | 95.61 | 130.52 | 16.21 | 274.91 | 200.65 | 37.01 | | Others | 0.00 | 0.00 | 0.00 | - | | Power Grid | 0.18 | 1.15 | -0.25 | LP | 0.06 | 0.73 | -0.62 | LP | -0.48 | -8.19 | -12.53 | 34.64 | | Total PBIT | 100.00 | 624.15 | 368.90 | 69.19 | 100.00 | 1,282.77 | 729.44 | 75.86 | 100.00 | 1,695.66 | 1,117.69 | 51.71 | | Less : Interest | | 4.51 | 1.39 | 224.46 | | 8.32 | 3.62 | 129.83 | | 12.66 | 13.11 | -3.43 | | Add: Other un-allcoable | | -24.73 | 25.37 | PL | | -62.87 | -5.46 | -1,051.47 | | -32.30 | 245.68 | PL | | PBIT Margin(%) | | Robotic & Discrete Automation | | 14.57 | 12.62 | 195.56 | | 15.06 | 13.74 | 131.23 | | 12.73 | 12.56 | 17.11 | | Motion | | 23.14 | 14.49 | 865.40 | | 22.28 | 13.21 | 906.41 | | 15.89 | 12.25 | 363.94 | | Electrification | | 23.14 | 16.31 | 682.40 | | 23.46 | 17.89 | 557.43 | | 18.54 | 13.82 | 472.24 | | Industrial Automation | | 16.17 | 11.14 | 503.24 | | 16.22 | 10.28 | 593.45 | | 12.29 | 12.75 | -46.05 | | Others | | 0.00 | 0.00 | 0.00 | | Power Grid | | 0.00 | 0.00 | 0.00 | | PBT | 100.00 | 594.91 | 392.88 | 51.42 | 100.00 | 1,211.58 | 720.36 | 68.19 | 100.00 | 1,650.70 | 1,350.26 | 22.25 |
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